Commission consults on fees for 2026

The Commission today launches a consultation paper on proposals for an overall increase in fees paid by regulated entities. The consultation period will close on 8 October 2025. 

The Commission is consulting on an overall increase in fees of 3.9%, which is in line with inflation. Other proposals which are outlined in the consultation paper are:

• rebasing of Private Investment Fund fees aimed at strengthening Guernsey’s competitive position in the investment sector;
• an adjustment to the banded fiduciary licence fees;
• the introduction of banded fees for Prescribed Businesses;
• new fees for certain requests which require the Commission’s approval, including a change of Designated Administrator for a collective investment scheme, a Transfer of Business between investment or fiduciary licensees, a change of General Representative for insurance firms and additional elements being added to a closed-ended investment scheme; and
• a substantial reduction in fees for Virtual Asset Service Provider applications, this proposed reduction forming part of the Commission’s initiative to reinforce Guernsey’s position as an international financial hub that is open to embracing digital assets.

As noted in previous years, the Commission's internal financial modelling suggests that it would be capable of sustaining its operations over 2026 with fee increases benchmarked to inflation. The Commission's overall proposed increase to fees is therefore matched to the rate of Guernsey inflation as at 30 June 2025, which will ensure that the Commission has sufficient resources to meet its statutory objectives, which includes having the requisite staff to supervise regulated entities in a proportionate manner, meet international standards and to make continued investment in new technologies.

Speaking at the proposals, the Commission’s Chairman, John Aspden, said “The Commission continues to seek to deliver good regulation in a proportionate manner and, in doing so, ensure that Guernsey remains an attractive jurisdiction in which to do business. Our proposed fees would keep the Bailiwick competitive with our peer jurisdictions. Embedded with our forecast assumptions for 2026 is the continuing use of a significant portion of our current reserves to fund critical technology developments which helps to keep our 2026 fee increases moderate.”